The HKMA 2022 Annual Report was published in April 2023.
Highlights of 2022
- Economic and Financial Environment: The banking sector in Hong Kong continues to be resilient in 2022, underpinned by robust capital and liquidity positions. Asset quality remains at a healthy level.
- Monetary Stability: The Hong Kong dollar exchange and money markets continue to operate in a smooth and orderly manner. This once again demonstrates the strength and resilience of the Linked Exchange Rate System.
- Reserves Management: The HKMA also continues its efforts in propelling responsible investments and asset diversification. Meanwhile, Long-Term Growth Portfolio records an annualised internal rate of return of 12.6% since its inception in 2009.
- Banking Stability: key areas where progresses were made include market risk management, cyber resilience, consumer protection measures, anti-money laundering and counter-financing of terrorism (AML/CFT) ecosystem, implementation of international supervisory standards, sustainable talent pipeline, etc. e
- International Financial Centre: On strengthening the competitiveness of Hong Kong’s financial platform, notable progress is made in areas including bond issuance, asset and wealth management, corporate treasury centres, and green and sustainable finance.
- Corporate Functions: Within the organisation, the HKMA conscientiously builds an agile and sustainable workforce, institutes rigorous financial discipline and upgrades information technology capabilities to adapt to changes and ensure effective implementation of its policies and initiatives.
Priorities for 2023 and Beyond
Looking ahead, the HKMA will stay vigilant in the face of the uncertain macroeconomic environment, seeking to promptly identify emerging risks and respond to them in an agile manner. At the same time, the HKMA will seek opportunities and create policy headroom to help further enhance Hong Kong’s status as a leading international financial centre. In managing the Exchange Fund in this challenging investment environment, the HKMA will continue to invest prudently, while remaining flexible, taking defensive measures as appropriate, and maintaining a high degree of liquidity.
Highlights of Sustainability-related Developments
In 2023, the HKMA will step up its efforts in promoting a more sustainable financial sector in Hong Kong while carrying out its duties as a responsible investor and sustainable organisation. Details on the HKMA’s work and priorities can be found in the Sustainability Report 2022.